Had my PS3 2 days and I'm already getting the flashing red light, had my 360 a year before i got the RROD.Just goes to show both these company's are as incompetent as each other.

Tough luck. You're a rare case though, overall the PS3 is more reliable than the 360.

Was it a new one?  At least yours broke under warranty if its new.  Usually 360s break right AFTER the warranty is up. >_>

it's RROD

you're covered by warranty so it hasa  solution